Brokerage Research Reports share price target

Base led buoyancy but innate weakness persists

The stock has indicated a breakout above the channel pattern in the daily chart at 500 levels and has improved the bias with consecutive positive bullish candle and moving ahead. Currently the RSI indicator is also going strong and is well placed and with the chart looking promising, we anticipate an upside movement in...

The stock has indicated a breakout above the channel pattern in the daily chart at 500 levels and has improved the bias with consecutive positive bullish candle and moving ahead. Currently the RSI indicator is also going strong and is well placed and with the chart looking promising, we anticipate an upside movement in...

Indian economic is on a firm recovery and budget has boosted the prospects due to significant capex boost, PSU divestment plan and RBI resolve to maintain accommodative monetary policy stance. However sharp spike in Covid 19 cases is likely to disturb growth momentum in the near term. We believe 1Q22 presents challenge given expected lockdowns due to 2nd wave of Covid 19. We believe long terms trends in Infra, Housing, IT Services, Pharma, Chemicals, BFSI, Agri and Ecom are intact. Ecom, Electric Vehicles, OTT, Green energy, make in India and Financialisation will be key market drivers in the coming decade. We are adding...

On the companies front, three out of 12 companies are likely to report 15%+ YoY growth. Key monitorables are 1) Divi's Lab, likely to register above 25% growth in revenues amid steady growth in Generics and Custom Synthesis and 2) Ipca Labs, likely to register 18%+ revenue growth on the...

The I-direct CD universe is likely to see ~76% YoY growth at the PAT level due to strong sales growth and better margins. We believe, from our coverage, Supreme Industries, Astral Poly, Crompton Greaves Consumer,...

The quarter started on promising note with success of southern releases like Master. However, desired flow of successive releases (especially in Hindi languages) was absent. Subsequently, PVR and Inox Leisure recorded occupancy short of their historic figures. Employee and other expenses, increased further during the quarter as more screens opened. We estimate EBITDA (ex-Ind-AS) loss of | 132.9 crore for PVR and EBITDA (ex-Ind-AS) loss of | 93.2 crore for Inox. This will translate to net losses at bottomline for both companies. With newly announced restrictions in the key market of...

Average diesel prices are up ~22% YoY, 9% QoQ leading to a rise in average freight costs per tonne by ~| 45-50/t QoQ. Also, petcoke prices inched up further by 7% QoQ. However, players switching to coal would help restrict its impact, to some extent. This is expected to lead to another cost impact of | 35-40/tonne during the quarter. On the other hand, fixed cost rationalisation is expected to restrict cost impact to ~| 70-75/t. Overall, we expect I-direct universe EBITDA/t to decline 2.4% QoQ to | 1176/t....

growth story remains intact. We roll forward UPL valuation from Sep22 to FY23 with revised target price of Rs 659 (Previous Rs 601) but downgrade it to HOLD from Accumulate, due to recent run up in stock price. The resumption of depreciation of Brazilian Real against USD may pose challenge for UPL in the short term. Dhanuka Agritech (TP Rs 953) and Rallis (TP Rs 321) are top picks in our space. 6-8% consumption growth: On ground consumption has grown @ 6-8% driven by demand from South, East and Central India. For companies like PI, Dhanuka,...